[DigitalToday reporter Sangyeop Oh (오상엽)] The KOSPI rose more than 3 percent on May 29 to set a fresh record high. Buying concentrated in large semiconductor shares such as Samsung Electronics and SK Hynix, pushing the index up to around the 8,470 level. The KOSDAQ, however, fell more than 2 percent, highlighting a sharp divergence between the two markets.

The KOSPI ended up 290.86 points, or 3.55 percent, at 8,476.15. It opened at 8,384.31, up 199.02 points, or 2.43 percent, from the previous session and extended its gains.

The KOSPI reset its all-time high on a closing basis. Large-cap semiconductor and electrical and electronics shares lifted the index, with Samsung Electronics, Samsung Electronics preferred shares and Samsung Electro-Mechanics rising in tandem and widening the gains.

By investor category, institutions led the rise with net buying of 2.3661 trillion won. Individuals and foreigners posted net selling of 1.4014 trillion won and 1.0426 trillion won, respectively. Institutional buying absorbed selling by foreigners and individuals, supporting the KOSPI's strength.

Most top market-cap stocks rose. Samsung Electronics gained 5.84 percent to 317,000 won, and SK Hynix rose 1.92 percent to 2,333,000 won.

Samsung Electro-Mechanics rose 15.04 percent, Hyundai Motor gained 6.79 percent, LG Energy Solution added 3.62 percent, Samsung Life rose 8.67 percent and Samsung C&T gained 8.26 percent. Samsung Electro-Mechanics has surged for consecutive sessions, topping 2,000,000 won and climbing to fourth by market value, overtaking Hyundai Motor.

SK Square fell 0.32 percent and HD Hyundai Heavy Industries slipped 1.14 percent.

The market's strength was largely driven by gains in large semiconductor shares. Samsung Electronics rose nearly 6 percent to lift the index, and SK Hynix extended its uptrend. Samsung Electro-Mechanics and Samsung Electronics preferred shares also climbed sharply, spreading buying across the broader electrical and electronics sector.

The KOSDAQ moved in the opposite direction to the KOSPI. The KOSDAQ ended down 29.56 points, or 2.68 percent, at 1,074.80.

The session showed a clear differentiation between the KOSPI and the KOSDAQ. The KOSPI set a new high on a rally led by semiconductors and large-cap shares, while the KOSDAQ deepened losses as institutional selling and weakness in growth stocks combined. An assessment has emerged that stock market funds have recently continued to concentrate in large blue-chip shares.

In the Seoul foreign exchange market, the won stood at 1,506.60 per dollar, down 10.10 won from the previous session.